Udemy, Inc. (NASDAQ:UDMY) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in Udemy, Inc. (NASDAQ:UDMY - Free Report) by 42.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,913 shares of the company's stock after selling 102,878 shares during the period. Assenagon Asset Management S.A. owned about 0.10% of Udemy worth $1,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in UDMY. JPMorgan Chase & Co. raised its holdings in Udemy by 26.2% in the third quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company's stock valued at $1,476,000 after acquiring an additional 41,145 shares in the last quarter. Barclays PLC raised its holdings in shares of Udemy by 360.6% in the 3rd quarter. Barclays PLC now owns 155,719 shares of the company's stock valued at $1,158,000 after purchasing an additional 121,911 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Udemy by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company's stock valued at $16,497,000 after purchasing an additional 5,972 shares in the last quarter. State Street Corp lifted its position in shares of Udemy by 0.8% during the 3rd quarter. State Street Corp now owns 1,934,473 shares of the company's stock worth $14,392,000 after purchasing an additional 15,339 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Udemy during the third quarter worth $30,000. Hedge funds and other institutional investors own 79.48% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on UDMY shares. Morgan Stanley cut Udemy from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $10.00 to $7.50 in a research note on Friday, September 27th. Scotiabank initiated coverage on Udemy in a research report on Thursday, December 5th. They set a "sector outperform" rating and a $10.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 price target on shares of Udemy in a report on Friday, January 17th. Finally, Cantor Fitzgerald dropped their price target on shares of Udemy from $18.00 to $11.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $10.92.

Udemy Price Performance

Shares of NASDAQ:UDMY traded up $0.05 during trading on Friday, reaching $7.54. The company had a trading volume of 959,402 shares, compared to its average volume of 556,284. The stock's fifty day moving average price is $8.14 and its 200 day moving average price is $8.07. Udemy, Inc. has a fifty-two week low of $6.67 and a fifty-two week high of $14.74. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -11.97 and a beta of 1.87.

Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.06. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. The company had revenue of $195.42 million during the quarter, compared to the consensus estimate of $192.69 million. Udemy's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.10) EPS. On average, equities analysts anticipate that Udemy, Inc. will post -0.47 EPS for the current fiscal year.

Insider Activity at Udemy

In related news, CEO Gregory Scott Brown sold 10,000 shares of the company's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total transaction of $85,000.00. Following the transaction, the chief executive officer now owns 1,203,727 shares of the company's stock, valued at $10,231,679.50. This represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Eren Bali sold 35,518 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total value of $319,662.00. Following the completion of the sale, the chief technology officer now directly owns 2,225,532 shares of the company's stock, valued at approximately $20,029,788. This trade represents a 1.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,255,518 shares of company stock worth $25,579,762 over the last 90 days. Company insiders own 3.20% of the company's stock.

Udemy Profile

Udemy, Inc, a learning company, that operates a marketplace platform for learning skills in the United States and internationally. The company offers skill acquisition, development, and validation courses for organizations and individuals, through direct-to-consumer or Udemy Business offerings in various languages.